RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
Three Months Ended March 31, | Twelve Months Ended March 31, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Operating income, as reported | $ | 253.5 | $ | 848.0 | $ | 2,571.0 | $ | 3,116.0 | |||||||
Share-based compensation expense | 42.8 | 43.9 | 177.5 | 170.4 | |||||||||||
Other manufacturing adjustments | 4.3 | — | 4.3 | — | |||||||||||
Other adjustments | 0.8 | 0.8 | 1.8 | 2.8 | |||||||||||
Professional services associated with certain legal matters | 0.3 | 1.5 | 1.5 | 4.7 | |||||||||||
Amortization of acquired intangible assets (1) | 151.2 | 167.4 | 605.4 | 669.9 | |||||||||||
Special (income) charges and other, net | (16.9 | ) | 2.1 | (12.3 | ) | (4.0 | ) | ||||||||
Non-GAAP operating income | $ | 436.0 | $ | 1,063.7 | $ | 3,349.2 | $ | 3,959.8 | |||||||
GAAP operating income as a percentage of net sales | 19.1 | % | 38.0 | % | 33.7 | % | 36.9 | % | |||||||
Non-GAAP operating income as a percentage of net sales | 32.9 | % | 47.6 | % | 43.9 | % | 46.9 | % |